Oil Market Snapshot — Thu, 07 May 2026 22:00 UTC
Published 2026-05-07 22:05
The Strait of Hormuz remains closed, disrupting 30% of global seaborne crude and 20% of global LNG trade, pushing oil prices higher. Brent Crude surged 5.57% to $100.5/barrel, while WTI Crude Oil rose 5.31% to $101.7/barrel. LNG experienced the most significant price increase, up 30.68%, though no numerical value is available for its price. Fertilizer prices also climbed 14.05%. The Disruption Index holds steady at 99, reflecting persistent geopolitical instability. Iran's pursuit of control over the Strait amid peace talks suggests ongoing supply uncertainty. Market participants will closely monitor diplomatic efforts and the potential for alternative transit routes.
Price snapshot
| Commodity | Price | Change |
|---|---|---|
| Brent Crude Oil | 100.5 USD/barrel | 5.57 |
| WTI Crude Oil | 101.7 USD/barrel | 5.31 |
| LNG Europe spot price | 0 EUR/MWh | 0 |
| Urea fertilizer spot price | 0 USD/MT | 0 |
| Methanol spot price | 0 USD/MT | 0 |
| Sulfur spot price | 0 USD/MT | 0 |
| Aluminium LME spot price | 0 USD/MT | 0 |
| VLCC tanker freight rate | 0 USD/day | 0 |
| Brent Crude | 100.98 USD/barrel | -0.34 |
| WTI Crude | 95.11 USD/barrel | -0.34 |
Top movers
- LNG: % —
- Fertilizer: % —
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- Brent Crude: % —
Frequently asked questions
- What moved oil prices this hour?
- LNG led with a +30.68% move.
- What is the current Strait of Hormuz status?
- Strait of Hormuz Closed; Iran Seeks Control Amid Peace Talks
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.